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Cosmopolitan
15-07-2025
- Cosmopolitan
What is Jeffrey Epstein's net worth – and what happened to all his money?
The name Jeffrey Epstein is one that has become synonymous with a string of heartbreaking crimes: the former teacher and financier, who was found dead in a jail cell in August 2019 following an apparent suicide, was a known sex offender with numerous victims. Later, Epstein would go on to become a multi-millionaire with a flashy inner circle, including the likes of Donald Trump and Prince Andrew, and was accused of running a sex trafficking ring to live out his sordid fantasies with vulnerable young girls (something President Trump has emphatically denied knowledge of). In 2008, Epstein was given an 18-month jail sentence after pleading guilty to soliciting sex from girls as young as 14, but this turned out to be the tip of the iceberg. Given his links to big names and the subsequent allegations that he ran a sophisticated sex trafficking ring, there has been major public interest in the life and wealth of Epstein. His crimes—and the far-reaching network of enablers around him—were also the focus of the hit Netflix documentary series Filthy Rich. Another of Epstein's famous associates is his ex-girlfriend Ghislaine Maxwell. Once a socialite and best known as the daughter of media tycoon Robert Maxwell, she was convicted in 2022 on charges of child sex trafficking in association with Epstein and is currently serving a 20-year prison sentence. She was found guilty of helping him recruit and groom young girls for abuse. Meanwhile, Virginia Giuffre – perhaps the most well-known accuser, who claimed she was trafficked by Maxwell to have sex with Prince Andrew at the age of 17 – sadly passed away earlier this year. Giuffre had long been a powerful voice for victims and continued fighting to be heard even amid intense public and legal scrutiny. Prince Andrew has repeatedly denied all allegations. While parts of Epstein's criminal enterprise have come to light, many aspects of his life remain shrouded in mystery, including the full extent of his wealth, how he came to possess it and where Epstein's money has ended up today. According to a Forbes article, just weeks before Epstein's death, 'The source of his wealth—a money management firm in the U.S. Virgin Islands—generates no public records, nor has his client list ever been released.' At its peak, Epstein's fortune was estimated to be around $560 million (£416 million). As for how he made his money, Epstein's early career was riddled with deception. After falsely claiming to have a college degree, he briefly taught maths before landing a job at the investment bank Bear Stearns in the mid-1970s. There, he rose to partner before being dismissed for a series of violations. In 1981, he set up his own firm—Intercontinental Assets Group Inc.—which specialised in helping clients recover lost funds. Ironically, it's also later claimed that in 1993, Epstein was involved in a 'Ponzi scheme' – a fraudulent investing scam in which investors are falsely told there are high rates of return with little risk. Steven Hoffenberg, who was jailed for eighteen years for his role in the scheme, said of Epstein, "[He had] no moral compass. He was a brilliant, seductive, criminal mastermind." Despite Hoffenberg's claims, Epstein was never charged in connection with the scheme. It remains unclear whether he benefited financially from it. Another striking allegation came from billionaire Les Wexner, the longtime CEO of Victoria's Secret, who accused Epstein of 'misappropriating' $46 million of his personal fortune. At one point, Wexner even gave Epstein power of attorney over his finances. On 8 August 2019—just two days before his death—Epstein signed a document that transferred all of his assets into a private trust known as the 1953 Trust (possibly named so as a nod to the year of his birth). 'This is the last act of Epstein's manipulation of the system, even in death,' said attorney Jennifer Freeman, who represents survivors of child sexual abuse, in an interview with The Guardian. Because trusts are private legal entities, the identities of Epstein's beneficiaries—and the amounts they may have received—are shielded from public view. For victims, this means initiating a lengthy legal process just to access financial disclosures, let alone claim compensation. Judges must rule on whether victims qualify, determine appropriate payouts, and possibly reduce any amounts allocated to beneficiaries—who have the right to contest such decisions. The trust absorbed all his assets; properties, cash, investments, and valuables. Over the years, the 1953 Trust has paid out more than $164 million to victims via a compensation fund, and money generated by the sales of some of Epstein's infamous properties – like Little Saint James (aka the "private island") and his sprawling Manhattan townhouse. Despite his death, elements of Epstein's wealth have actually continued to grow: a key remaining asset is a venture capital stake he took out in entrepreneur Peter Thiel's Valar Ventures, originally worth $40 million but now valued at up to $200 million. But while this may make it sound as though Epstein's estate is dripping in cash, not everything is as spendable as it seems – a big chunk of the estate is still tied up in Thiel's venture capital fund. Why? Because those kinds of investments take forever (okay, years) to pay out. So while the estate might look like a multi-millionaire's dream on paper, that cash isn't sitting pretty in the bank just yet. Until the investment is cashed, the executors can't touch it, and sadly, that means Epstein's victims are unlikely to see a penny of those future profits—especially since most compensation funds have already wrapped up. Another frustrating example of how Epstein's wealth continues to stay just out of reach. As of 2025, the estate's value is estimated at around $150 to 200 million, though legal and financial scrutiny continues, and beneficiaries of the trust remain mostly unknown. One of the most valuable assets remaining in Epstein's estate is a $40 million investment he reportedly made into a pair of funds managed by Valar Ventures in 2015 and 2016, which is a fintech-focused venture capital firm co-founded by billionaire tech mogul Peter Thiel – a man who has long sung Trump's praises and who financially backed Vice President JD Vance during his bid for the VP position. Thiel's reputation as a powerful figure with big political influence and a pro-nationalist agenda has also seen the spotlight shift on him of late. Epstein's stake, according to filings seen by The New York Times and reported by Reuters, has since ballooned to an estimated $170–200 million, and some have questioned why victims cannot access it. The answer? Because venture capital investments are typically locked in for years, the Epstein estate cannot yet liquidate this particular asset. The eventual beneficiaries of these profits remain unclear, but for now, the victims of Epstein's crimes are unlikely to see a share from this particular pot of his estate. There's also zero public evidence that Thiel had a close, personal relationship with Epstein or was aware of any of his crimes, however the pair's connection has drawn renewed attention given Elon Musk's recent X posts about Trump allegedly being on the Epstein 'client list' (which the FBI now denies even exists). Musk and Thiel are both co-founders of PayPal, an online payment platform, and big name players in the Silicon Valley tech sphere, as was Epstein once upon a time. Jennifer Savin is Cosmopolitan UK's multiple award-winning Features Editor, who was crowned Digital Journalist of the Year for her work tackling the issues most important to young women. She regularly covers breaking news, cultural trends, health, the royals and more, using her esteemed connections to access the best experts along the way. She's grilled everyone from high-profile politicians to A-list celebrities, and has sensitively interviewed hundreds of people about their real life stories. In addition to this, Jennifer is widely known for her own undercover investigations and campaign work, which includes successfully petitioning the government for change around topics like abortion rights and image-based sexual abuse. Jennifer is also a published author, documentary consultant (helping to create BBC's Deepfake Porn: Could You Be Next?) and a patron for Y.E.S. (a youth services charity). Alongside Cosmopolitan, Jennifer has written for The Times, Women's Health, ELLE and numerous other publications, appeared on podcasts, and spoken on (and hosted) panels for the Women of the World Festival, the University of Manchester and more. In her spare time, Jennifer is a big fan of lipstick, leopard print and over-ordering at dinner. Follow Jennifer on Instagram, X or LinkedIn.
CNN
09-07-2025
- Politics
- CNN
What to know about the Jeffrey Epstein saga
On Monday, the Justice Department and the FBI released a memo evoking outrage from both President Donald Trump's critics and his most ardent supporters. That memo claimed there was no evidence that Jeffrey Epstein had a list of powerful men who participated in his alleged underworld of sex trafficking and pedophilia. And, the memo said, the disgraced financier and convicted sex offender was not murdered in his New York jail cell. The admission marked the end of a review of Epstein's case by Trump administration officials who had fanned conspiracy theories and sparked a resurgence of accusations that the nation's top leaders were purposefully concealing incriminating facts about Epstein and those around him. But who was Jeffrey Epstein, and how did he go from a college dropout to a politically connected billionaire, and then to a convicted pedophile and accused sex trafficker? And why are there still questions about his jailhouse death? Epstein, a New York native, started his career with a brief stint as a teacher at a prestigious private school. He didn't take long to move into investment banking, working first at Bear Stearns before starting his own firm in 1982. At his firm, Epstein exclusively took on clients worth more than $1 billion, CNN has reported. By the 1990s, Epstein had managed to accumulate estates and apartments in several countries, according to court documents – even a private island in the Caribbean – and was rubbing shoulders with some of the wealthiest and most powerful people in the world. Those people included Prince Andrew, former President Bill Clinton and Donald Trump, all of whom deny any wrongdoing. Details of Epstein's alleged secret life first emerged in 2005 when several underage girls accused him of offering to pay for massages or sex acts at his Palm Beach mansion. Grand jury testimony unsealed years later included accusations that Epstein, who was then in his 40s, had raped teenage girls as young as 14. Epstein avoided federal charges in the case by striking an agreement to serve 13 months in prison on state prostitution charges and to register as a sex offender. A Justice Department review later found that then-US Attorney Alex Acosta, who oversaw the agreement, exercised 'poor judgement' in striking the deal. Acosta went on to serve as Trump's Labor secretary in his first term. Dozens of additional women then alleged in 2018 that Epstein had abused them. That reporting pushed the Justice Department to open a new investigation into Epstein, and he was indicted in New York with sex trafficking dozens of underage girls less than one year later. He pleaded not guilty to those federal charges. In August 2019, Epstein was found unresponsive in his cell at New York's Metropolitan Correctional Center. He was taken to a hospital, where he was pronounced dead. It was ruled a suicide. Almost immediately after Epstein died, members of the public started to question whether Epstein had really died by suicide or if shady and powerful figures had killed him to stop any incriminating material from being released. It didn't help that authorities weren't able to establish even rudimentary facts in the days after his death, such as why was Epstein's cellmate moved out the day before he died, what surveillance video showed, who found Epstein that morning and the whereabouts of the two guards who were supposed to be watching him. An autopsy report muddied the waters on Epstein's death to some, as officials said the broken bones in his neck could theoretically be the result of either hanging or strangulation. Photos of a bedsheet that had been turned into a noose and an apparent suicide note didn't sway nonbelievers either. As the conspiracy theories of a murder plot gained traction, so too did the theory that Epstein had kept a so-called client list as blackmail. That list's release, conspiracy theorists claimed, would not only expose whom Epstein helped abuse underage girls, but could also solve the murder. In the following years, the Justice Department and the courts released timelines and hundreds of documents that exposed the sordid details of his crimes. Those documents included a trove of flight logs that named who had visited Epstein's private island. An internal DOJ watchdog conducted a yearslong investigation and issued a nearly 130-page scathing report that meticulously details what happened in the Manhattan jail the day Epstein died and outlined the federal Bureau of Prisons' multiple failures. The report concluded that there was no evidence to contradict the 'absence of criminality' in Epstein's death – meaning that he had died by suicide. But the conspiracy theories, often pushed by a myriad of right-wing figures, including now-FBI Director Kash Patel and Deputy Director Dan Bongino, never subsided. During his 2024 campaign, Trump said that he would consider releasing additional government files on Epstein, promising to fulfill the demand from right-wing figures as part of his push for government-wide transparency. To some, Monday's memo abandoned that promise. 'This systematic review revealed no incriminating 'client list,'' the memo states. 'There was also no credible evidence found that Epstein blackmailed prominent individuals as part of his actions. We did not uncover evidence that could predicate an investigation against uncharged third parties.' The department also released 10 hours of jailhouse security footage that shows no one entered Epstein's jail cell on the day he died by suicide. 'One of our highest priorities is combatting child exploitation and bringing justice to victims. Perpetuating unfounded theories about Epstein serves neither of those ends,' it adds. Backlash against the DOJ was immediate. Calls for Attorney General Pam Bondi to resign swarmed social media, alleging that she lied in a February interview on Fox News by saying that a client list was 'sitting on my desk right now to review.' (Bondi has since said that she was referring to all the paperwork related to the Epstein investigation, such as flight logs, and not to a specific client list.) 'All those videos of [Bondi] saying yeah, she's seen the videos, it's all coming out and then now it doesn't exist,' Infowars host Alex Jones said through tears in a video posted on X. 'I mean what? What? What?' Some of Trump's closest allies grew frustrated behind the scenes with Bondi's handling of the Epstein case files. One administration official told CNN that Bondi 'bungled the case from the start' by overpromising potential bombshell findings. For his part, Trump on Tuesday at the White House tried to move on, lashing out at reporters who asked about the DOJ memo: 'Are you still talking about Jeffrey Epstein?'
CNN
09-07-2025
- Politics
- CNN
What to know about the Jeffrey Epstein saga
On Monday, the Justice Department and the FBI released a memo evoking outrage from both President Donald Trump's critics and his most ardent supporters. That memo claimed there was no evidence that Jeffrey Epstein had a list of powerful men who participated in his alleged underworld of sex trafficking and pedophilia. And, the memo said, the disgraced financier and convicted sex offender was not murdered in his New York jail cell. The admission marked the end of a review of Epstein's case by Trump administration officials who had fanned conspiracy theories and sparked a resurgence of accusations that the nation's top leaders were purposefully concealing incriminating facts about Epstein and those around him. But who was Jeffrey Epstein, and how did he go from a college dropout to a politically connected billionaire, and then to a convicted pedophile and accused sex trafficker? And why are there still questions about his jailhouse death? Epstein, a New York native, started his career with a brief stint as a teacher at a prestigious private school. He didn't take long to move into investment banking, working first at Bear Stearns before starting his own firm in 1982. At his firm, Epstein exclusively took on clients worth more than $1 billion, CNN has reported. By the 1990s, Epstein had managed to accumulate estates and apartments in several countries, according to court documents – even a private island in the Caribbean – and was rubbing shoulders with some of the wealthiest and most powerful people in the world. Those people included Prince Andrew, former President Bill Clinton and Donald Trump, all of whom deny any wrongdoing. Details of Epstein's alleged secret life first emerged in 2005 when several underage girls accused him of offering to pay for massages or sex acts at his Palm Beach mansion. Grand jury testimony unsealed years later included accusations that Epstein, who was then in his 40s, had raped teenage girls as young as 14. Epstein avoided federal charges in the case by striking an agreement to serve 13 months in prison on state prostitution charges and to register as a sex offender. A Justice Department review later found that then-US Attorney Alex Acosta, who oversaw the agreement, exercised 'poor judgement' in striking the deal. Acosta went on to serve as Trump's Labor secretary in his first term. Dozens of additional women then alleged in 2018 that Epstein had abused them. That reporting pushed the Justice Department to open a new investigation into Epstein, and he was indicted in New York with sex trafficking dozens of underage girls less than one year later. He pleaded not guilty to those federal charges. In August 2019, Epstein was found unresponsive in his cell at New York's Metropolitan Correctional Center. He was taken to a hospital, where he was pronounced dead. It was ruled a suicide. Almost immediately after Epstein died, members of the public started to question whether Epstein had really died by suicide or if shady and powerful figures had killed him to stop any incriminating material from being released. It didn't help that authorities weren't able to establish even rudimentary facts in the days after his death, such as why was Epstein's cellmate moved out the day before he died, what surveillance video showed, who found Epstein that morning and the whereabouts of the two guards who were supposed to be watching him. An autopsy report muddied the waters on Epstein's death to some, as officials said the broken bones in his neck could theoretically be the result of either hanging or strangulation. Photos of a bedsheet that had been turned into a noose and an apparent suicide note didn't sway nonbelievers either. As the conspiracy theories of a murder plot gained traction, so too did the theory that Epstein had kept a so-called client list as blackmail. That list's release, conspiracy theorists claimed, would not only expose whom Epstein helped abuse underage girls, but could also solve the murder. In the following years, the Justice Department and the courts released timelines and hundreds of documents that exposed the sordid details of his crimes. Those documents included a trove of flight logs that named who had visited Epstein's private island. An internal DOJ watchdog conducted a yearslong investigation and issued a nearly 130-page scathing report that meticulously details what happened in the Manhattan jail the day Epstein died and outlined the federal Bureau of Prisons' multiple failures. The report concluded that there was no evidence to contradict the 'absence of criminality' in Epstein's death – meaning that he had died by suicide. But the conspiracy theories, often pushed by a myriad of right-wing figures, including now-FBI Director Kash Patel and Deputy Director Dan Bongino, never subsided. During his 2024 campaign, Trump said that he would consider releasing additional government files on Epstein, promising to fulfill the demand from right-wing figures as part of his push for government-wide transparency. To some, Monday's memo abandoned that promise. 'This systematic review revealed no incriminating 'client list,'' the memo states. 'There was also no credible evidence found that Epstein blackmailed prominent individuals as part of his actions. We did not uncover evidence that could predicate an investigation against uncharged third parties.' The department also released 10 hours of jailhouse security footage that shows no one entered Epstein's jail cell on the day he died by suicide. 'One of our highest priorities is combatting child exploitation and bringing justice to victims. Perpetuating unfounded theories about Epstein serves neither of those ends,' it adds. Backlash against the DOJ was immediate. Calls for Attorney General Pam Bondi to resign swarmed social media, alleging that she lied in a February interview on Fox News by saying that a client list was 'sitting on my desk right now to review.' (Bondi has since said that she was referring to all the paperwork related to the Epstein investigation, such as flight logs, and not to a specific client list.) 'All those videos of [Bondi] saying yeah, she's seen the videos, it's all coming out and then now it doesn't exist,' Infowars host Alex Jones said through tears in a video posted on X. 'I mean what? What? What?' Some of Trump's closest allies grew frustrated behind the scenes with Bondi's handling of the Epstein case files. One administration official told CNN that Bondi 'bungled the case from the start' by overpromising potential bombshell findings. For his part, Trump on Tuesday at the White House tried to move on, lashing out at reporters who asked about the DOJ memo: 'Are you still talking about Jeffrey Epstein?'
India Today
06-06-2025
- Business
- India Today
Who was Jeffrey Epstein? Elon Musk revives link with Donald Trump
One name is currently making headlines -- Jeffrey Epstein. This renewed attention began when Elon Musk shared a video on X that appears to show Donald Trump spending time with Epstein. Epstein, who died in 2019, was widely held responsible for a vast sex-trafficking operation involving underage girls and powerful son of working-class parents and the grandson of Jewish immigrants, Jeeferey Epstein was born in 1953. He showed early promise in mathematics and first real job -- teaching at Manhattan's elite Dalton School -- opened doors he could never have imagined. It was here that he met the man who would change his fortunes: a student's father, Alan "Ace" Greenberg, CEO of Bear Stearns. Epstein soon left the classroom behind for Wall Street, where he climbed quickly, even as details of his financial methods grew MONEY MANAGER WITHOUT A DEGREE Epstein founded J Epstein and Co. in 1988. He claimed to only take on clients worth more than a billion dollars. The secrecy around his firm was near-total, but it is known that he managed the wealth of retail tycoon Leslie Wexner for partnership brought him influence, access -- and staggering built a global portfolio of mansions, private jets, and even private islands in the US Virgin Palm Beach in 2005, the veil began to lift. Police began investigating claims that Epstein had abused a 14-year-old girl. What followed was a series of shocking discoveries: hidden cameras, ledgers, and a growing list of young girls who said they had been lured to his mansion under the guise of offering case should have ended then. But in 2008, Epstein struck a secretive plea deal with federal prosecutors. He served just 13 months in jail -- with a daily work-release would later be revealed that US attorney Alexander Acosta was advised to go lightly, allegedly due to Epstein's ties to intelligence or powerful individuals. The plea deal silenced many voices for a time, but not ISLAND, THE JET AND THE ELITEEpstein's network was unlike any other. His guests included politicians, academics, royals, and presidents. Bill Clinton, Donald Trump, Prince Andrew -- these were not fringe associates, but regular names in his travel flew them aboard his private jet, often referred to by locals as the 'Lolita Express.' The island of Little St. James became a place of interest to investigators and journalists alike. Survivors would later describe a world where influence and abuse collided with chilling 2018, an investigation by the Miami Herald reignited public interest. Journalist Julie K. Brown tracked down over 80 women who alleged abuse by Epstein or his associates. It was a tidal wave that could not be held back. In July 2019, Epstein was arrested at Teterboro Airport in New Jersey. He was charged with sex trafficking without bail in a Manhattan jail, Epstein was reportedly despondent. On July 23, he was found injured in his cell. Though labelled a suicide attempt, questions lingered. Within weeks, he was taken off suicide watch. On August 10, 2019, Epstein was found dead in his DEATHThe autopsy ruled it suicide by hanging. But faulty security cameras, missing guards, and the removal of his cellmate on the night of his death fed a storm of speculation. His lawyers insisted he was murdered. Others said the truth died with the end, Epstein died as he had lived -- behind closed doors, surrounded by secrets. But the survivors, the journalists, and the public refused to let the silence win. His case reshaped conversations around sexual abuse, justice, and how power hides in plain Watch
Telegraph
28-04-2025
- Business
- Telegraph
Europe is ‘retirement community for the world', says Big Short investor
A hedge fund boss who predicted the 2008 housing crash has criticised investors for pulling money out of the US and putting it into Europe. Kyle Bass, who was depicted in The Big Short, rote on X: 'Europe is an anti-growth, anti-capitalist, pro-tax, super-regulatory, loose collection of broken economies.' He criticised those who were 'investing haphazardly in Europe', with billions poured into French, German and British stocks among others since Donald Trump took office on Jan 5. Mr Bass, who made billions betting on a housing crash during the 2008 financial crisis, said Europe was 'a travel destination and a retirement community for the world. It could be great but no'. 'The Euro Stoxx 50 has annualised 1.86pc annualised returns for the past 20 years while the US S&P 500 has annualised +10pc returns over the same period. It's been +540pc better to live and invest in the United States over the past 20 years.' To the people investing haphazardly into Europe: Have you been there lately? Europe is an anti-growth, anti-capitalist, pro-tax, super-regulatory, loose collection of broken economies. It's a travel destination and a retirement community for the world. It could be great but no. — 🇺🇸 Kyle Bass 🇹🇼 (@Jkylebass) April 28, 2025 Investors have put record sums into European stocks in the first three months of this year, seeking to shield themselves against volatility in US markets driven by the Trump administration's policies. Some $10.6bn has gone into European exchange traded funds since the start of the year. The investments have helped boost the valuations of Europe's leading stock indices including Germany's Dax 40, France's Cac 40 and Britain's FTSE 100. Mr Bass runs hedge fund Hayman Capital Management, which he set up in Dallas, Texas, in 2005. He rose to prominence after successfully predicting the US subprime mortgage crisis that led to the 2008 crash. He came to be known as one of the investors who successfully 'shorted' the US housing market during the crisis, by taking out massive bets against risky loans given out to homeowners. His multimillion-dollar bets later contributed to the collapse of investment bank Bear Stearns and he was subsequently featured in Michael Lewis's 2010 book The Big Short, later an Oscar-winning film. While Mr Bass is sceptical of Europe, he has been betting on growth in Republican states such as Florida, Texas and Tennessee by buying up land. He hopes to capitalise on internal migrations inside the US from relatively high-tax states run by Democrats to pro-business Red states. Mr Bass, 55, has in the past donated to both Republican and Democratic Party candidates, including California Governor Gavin Newsom and presidential hopefuls Mitt Romney and Ted Cruz. More recently, however, Mr Bass has shown support for Donald Trump and his controversial trade policies. Mr Bass told Bloomberg TV this month that the US needed to 'reset our trade relationships with the rest of the world', even if the country has 'to go through a brief recession in order to rebuild our foundation'. In a separate interview with CNBC, he added: 'In a tit-for-tat trade war, we win, every time. And I mean win, as in, the pain is much greater on their side than it is on our side.' Mr Bass has consistently criticised China, including by blaming the Chinese Communist Party for allowing the spread of Covid worldwide. Mr Trump at one point considered making Mr Bass treasury secretary, according to Bloomberg. The hedge fund manager later publicly backed Scott Bessent, whom Mr Bass has known for years and who now holds the post. In a post on X in November, Mr Bass said: 'Scott understands markets, economics, people and geopolitics better than anyone I've ever interacted with.'
